Southwest Gas (NYSE:SWX) Reaches New 52-Week High – Here’s What Happened

Southwest Gas Holdings, Inc. (NYSE:SWX)’s stock price reached a new 52-week high on Monday . The company traded as high as $79.38 and last traded at $79.26, with a volume of 62664 shares. The stock had previously closed at $77.51.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SWX. Wells Fargo & Company raised their price objective on shares of Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Southwest Gas Stock Performance

The firm has a fifty day moving average price of $74.75 and a two-hundred day moving average price of $73.69. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $5.62 billion, a PE ratio of 31.95, a P/E/G ratio of 4.18 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. Research analysts expect that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current year.

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s payout ratio is presently 100.00%.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the completion of the sale, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. This trade represents a 12.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Southwest Gas

Institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. increased its holdings in shares of Southwest Gas by 67.2% in the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 160 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in Southwest Gas by 0.6% in the third quarter. Pathstone Holdings LLC now owns 27,125 shares of the utilities provider’s stock worth $2,001,000 after acquiring an additional 165 shares during the last quarter. V Square Quantitative Management LLC grew its position in Southwest Gas by 4.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,303 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 199 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Southwest Gas by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,174 shares of the utilities provider’s stock worth $645,000 after acquiring an additional 213 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Southwest Gas by 37.5% in the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 215 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.